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Years Ended December 31, |
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| In thousands, except per share data | 1996 | 1995(1) | 1994(2) | 1993(3) | 1992 |
| Net sales | $1,112,700 | $1,022,300 | $918,700 | $1,037,200 | $1,197,200 |
| Income (loss) before income taxes | $141,700 | $89,800 | $32,700 | $(137,400) | $192,900 |
| Net income (loss) | $109,100 | $79,200 | $19,200 | $(138,700) | $138,900 |
| Net income (loss) per common share and common share equivalent (primary and fully diluted) |
$1.48 | $1.05 | $.08 | $(2.48) | $2.32 |
| Average number of common shares and common share equivalents outstanding |
60,500 | 57,000 | 56,600 | 56,000 | 59,900 |
| Dividends declared per common share |
$.08 | $.08 | $.08 | $.245 | $.30 |
| At December 31, Total assets | $1,514,800 | $1,265,500 | $1,103,500 | $1,170,500 | $1,168,100 |
| Long-term debt | $142,400 | $256,500 | $248,500 | $505,300 | $394,500 |
| Stockholders' equity (4) | $1,053,800 | $741,100 | $662,000 | $443,900 | $590,000 |
| (1) | In the third quarter of 1995, the Company reached an agreement with respect to the settlement of all issues raised by the Internal Revenue Service in the examination of the Company's income tax returns for the years 1984 through 1990. As a result of the agreement, the Company recognized a net credit to the tax provision of $10 million ($ .18 per common share) in the third quarter of 1995. |
| (2) | In the fourth quarter of 1994 the Company signed a letter of intent to purchase certain assets of its independent distributor in Japan, which included inventory of the Company's products purchased by the independent distributor but not yet sold to third parties at December 31, 1994. Sales and net income were reduced by $17 million and $8 million ($.14 per common share), respectively, in anticipation of the pending reacquisition of these products and valuing these products at the Company's cost. |
| (3) | Income (loss) before income taxes and net income (loss) for 1993 include restructuring charges of $137.6 million and $129.6 million ($2.31 per share), respectively. |
| (4) | Included in Stockholders' equity in 1996, 1995 and 1994 is $191.5 million of convertible preferred stock which has a liquidation value of $200.0 million. |
Trademarks of United States Surgical Corporation and its subsidiaries throughout this publication are italicized.
Copyright © 1997 United States Surgical Corporation. All Rights Reserved.
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